We live in a globalised age of digital communications and multiple interacting networks. There are a huge amount of businesses within these networks, and it’s plain to see that you need to slot in within this framework and find your niche to become a successful company.
When it comes to setting up a business, there are many reasons why the UK is popular. If you are based in the UK, you might think that it makes sense to set up in the UK anyway due to sheer geography and convenience – but there are a large amount of benefits that make it a sensible choice.
Being based in the UK, it’s sometimes difficult to appreciate why exactly the UK is such a great place for business. We can occasionally take it for granted – so let’s explore some of the reasons why the UK is such a good choice for setting up a business.
Great Business & Great Britain
One of the main reasons why the UK is so good for businesses is that there are huge amounts of schemes designed to make business prosper. Some of these are government schemes, whereas others are private initiatives – let’s explore a few of them here:
- Tax Breaks for Startups – There are many very good programs designed to help businesses in the early stages. These include the possibility of claiming cash back on research and development costs.
- Accelerators – There are tons of accelerator programs in the UK, which mean there is huge potential for business growth if you have a great idea. One of the biggest ones is Seedcamp, which covers the whole of Europe, and is a well-known example, although there are many others. Jemima Kiss wrote in The Guardian that Seedcamp is “the original and best UK bootcamp for startups”.
- International – As part of the European Union, Britain has strong business and trade links with the entire continent. Also, providing you have the UK-based investment, anyone can start a business there. This means you can potentially found and run your company in Britain – no matter where you are originally from.
The structure of the UK economy is very much arranged as an incentive based one. There are so many different avenues for a good business idea to get funding and support, or perhaps just mentorship, to help facilitate growth.
This makes the atmosphere of the UK very conducive to business – whether that’s where you are currently based or not.
A British Economy Geared Towards Business
The thing that makes the UK so great for business is the fact that it is fundamentally geared towards businesses. There are so many benefits, which compared to many other countries means that you have a distinct advantage.